The Village's fiscal year runs from May 1st to April 30th of every year. The Village is required by State Law to adopt and file with the Cook County Clerk's Office an Annual Appropriation Ordinance within the first quarter of each fiscal year. The Appropriation Ordinance establishes the Village's maximum legal spending limit for the fiscal year. A more detailed working budget is also prepared in conjunction with the annual Appropriation Ordinance as a control tool employed and referenced throughout the year by Village Staff. The operating budget serves as a useful planning document for the Mayor and Board of Trustees by outlining the various services and programs that will be provided to Village residents in the given fiscal year as well as providing useful trending forecasts and spending projections for the upcoming two fiscal years.